StockNews.com Downgrades AXT (NASDAQ:AXTI) to Sell

AXT (NASDAQ:AXTI) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

A number of other equities research analysts have also recently weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $6.00 price target on shares of AXT in a research report on Monday, July 29th. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of AXT in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.38.

AXT Stock Performance

AXTI opened at $2.34 on Monday. The stock has a market capitalization of $103.89 million, a PE ratio of -5.85 and a beta of 2.23. AXT has a one year low of $1.89 and a one year high of $5.64. The business’s 50 day moving average price is $2.62 and its 200 day moving average price is $3.30.

AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The business had revenue of $27.92 million for the quarter, compared to analyst estimates of $26.50 million. AXT had a negative return on equity of 5.87% and a negative net margin of 14.75%. During the same quarter in the prior year, the company posted ($0.12) EPS. As a group, equities research analysts forecast that AXT will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of AXT

Several hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in AXT by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock worth $27,000 after buying an additional 2,500 shares during the period. Byrne Asset Management LLC raised its stake in shares of AXT by 125.0% in the second quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 7,500 shares in the last quarter. SG Americas Securities LLC purchased a new position in AXT in the first quarter valued at $52,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in AXT during the 1st quarter worth $77,000. Finally, Quadrature Capital Ltd increased its holdings in AXT by 46.6% during the 4th quarter. Quadrature Capital Ltd now owns 37,387 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 11,892 shares during the period. Institutional investors and hedge funds own 49.52% of the company’s stock.

AXT Company Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.